Best mortgage rates for Victoria on RateSupermarket.ca
If you are looking to search for the best mortgage rates in Victoria, you've come to the right place. RateSupermarket.ca compares over 55 mortgage lenders and Victoria mortgage brokers so you'll be sure to find the best mortgage rates in Victoria. You can either go compare Victoria's current mortgage rates now, at http://www.ratesupermarket.ca/best_mortgage_rates/Victoria.html, or look at the latest Victoria mortgage news listed below.
Victoria Mortgage Rates Will Remain Relatively Flat
The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Victoria Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels. For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50-7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.
Victoria 2008 Housing Outlook
The CMHC believes that buyer demand in Victoria, BC, will soften over the next two years and the supply of listings will increase. For each of the next two years, at least 4,200 singlefamily units and 2,500 multi-family units will be exchanged on the resale market, a slight decline relative to 2007. While buyer demand is expected to trend lower, the sales forecast for 2008 and 2009 is on par with the historical 15 year average.
CMHC Victoria housing market & Victoria mortgage rate forecast
Census Metropolitan Area Total Housing Starts MLS sales MLS average price Mortgage rates (1 year) Mortgage rates (5 year)
2007
2,579
8,403
$466,974
7.35%
7.54%
Victoria
2008 (F)
2,275
7,700
$487,000
6.95%
7.01%
2009 (F)
1,845
7,300
$498,000
6.83%
6.97%
Source = CMHC MLS = Multiple Listings Service
Mortgage lender's and mortgage broker's rates that we compare in Victoria, BC, Canada
RateSupermarket.ca compares the most mortgage rates in Victoria, Canada from the top lenders including banks, credit unions, trusts, and are also the only site to compare Victoria mortgage broker's rates.
RateSupermarket.ca compares mortgage rates from the following:
AGF Trust Bank of Montreal Bank of Nova Scotia Bridgewater Bank Canadian Tire Financial Services Canadian Western Bank Canadian Western Trust CIBC Mortgages Citibank Citizens Bank of Canada Concentra Financial First National Financial FirstLine Mortgages Home Trust Company HSBC Bank Canada ICICI Bank Canada ING Direct Investors Group Trust Laurentian Bank Canada Libro Financial Group London Life Manulife Bank MCAP National Bank Peace Hills Trust PC Financial ResMor Trust Royal Bank of Canada TD Canada Trust True North Mortgage
Victoria Best Mortgage Rates - Compare Rates - Mortgage Brokers -RateSupermarket Victoria mortgage rate, best Victoria mortgaage rates, RateSupermarket.ca, mortgage rates, Victoria mortgage broker, mortgage brokers in Victoria, compare Victoria mortgage rates Compare the best current mortgage rates in Victoria, Canada from all the Victoria mortgage lenders and Victoria mortgage brokers at Rate Supermarket.ca. Compare over 500 of the best mortgage rates